The revenues of wholesale and retail commercial companies in Mexico registered a mixed behavior in June 2026, with decreases at a monthly rate, but with annual increases, according to the  National Institute of Statistics and Geography (Inegi) .

Based on the Monthly Survey on Commercial Enterprises (EMEC), which reports on the current economic behavior of the main variables of domestic trade in the country, real income from the supply of goods and services by wholesale commercial enterprises decreased by 1.2% on a monthly basis in the sixth month of the year.

The number of people employed in this segment decreased by 0.8%, while  average wages increased by 0.4%  in June 2026 compared to last May.

On an annual basis, wholesale businesses saw a 12.9% increase in revenue. They also registered a 0.9% decrease in employment and a 1.5% increase in average real wages.

Meanwhile,  retail trade saw a monthly decline of 0.2% in its revenues and a negative variation of 0.7% in the workforce, although average real wages showed a monthly increase of 0.1 percent.

In June 2026, retail businesses reported a 2% annual increase in their income from the supply of goods and services —the amount obtained from production, marketing or service provision activities—, while the number of employees fell by 0.4% and wages increased by 5.2% year-on-year.

By subsector, wholesale trade, agricultural and forestry raw materials for industry, and waste materials  showed the best performance in terms of income from supplies, with a positive variation of 22.4% compared to June 2025. This was followed by pharmaceutical products, perfumery, leisure items, small household appliances and white goods with an annual increase of 15.8%.

Conversely, textiles and footwear was the activity with the largest drop in the cycle, with an annual decline of 5.7 percent.

The subsector with the highest revenue in retail was  exclusively through the internet and printed catalogs, television, and similar channels,  at 23.2 percent.  Self-service and department stores saw the largest decrease, with an annual decline of 2.3 percent.

One factor that influenced the behavior of the Mexican commercial sector last June was the World Cup, which, although it did generate an economic impact on trade and consumption in the country, did not represent a sustained or generalized boost.

According to the Confederation of National Chambers of Commerce, Services and Tourism (Concanaco-Servytur) , the economic impact did not reach the 65 billion pesos (mdp) expected during the development of the world game, and would have remained between 45 and 50 billion pesos, of which 15 billion pesos would be for additional consumption by Mexican households, destined for food, beverages, entertainment and convenience products.

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Mexico’s manufacturing activity is projected to have grown by 2%  in July 2026 compared to the same month in 2025, according to the results of the Monthly Indicator of Manufacturing Activity (IMOAM).

In the seventh month of the year, the IMOAM, prepared by the  National Institute of Statistics and Geography (Inegi) , projected a value of  108.2 points  as an advance calculation of the Monthly Indicator of Industrial Activity (IMAI) of the manufacturing sector.

“The IMOAM has established itself as a reliable estimation tool and is continuously evaluated by comparing it with the IMAI,” the agency stated.

Its objective is to provide a projection of the monthly behavior of Mexican manufacturing production activity.

The manufacturing industry is one of the most important in the country, as it represents about  20% of the national Gross Domestic Product (GDP) and more than 80% of total merchandise exports.

If the estimated result for July materializes, Mexican manufacturing would find itself in a recovery environment, following the slight monthly drop of 0.1 points in manufacturing orders recorded in the seventh month of the year.

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As a result of improved performance in the services sector —which includes activities such as transportation and storage—, Mexican economic activity would have grown in July 2026.

The Timely Indicator of Economic Activity (IOAE), prepared by the  National Institute of Statistics and Geography (Inegi) , anticipated an  annual increase of 2.7%  in Mexican economic activity in the seventh month of the year.

In its monthly measurement, the indicator would also have shown a positive figure, registering an increase of 0.1%  last July.

This rebound signals a  moderate economic expansion in Mexico , coupled with a slowdown in inflation, which in July 2026 stood at 3.12% compared to its annual comparison.

According to the Inegi report, by economic activity groups, an annual increase of 1.8% is expected in  secondary activities —manufacturing and construction—.

In  tertiary activities , which include services such as commerce, transport and storage, communications, education and health, an increase of 2.8% per year is estimated.

By July 2026, the IOAE projected an annual growth of 2.7% in the Global Indicator of Economic Activity (IGAE) .

On a monthly basis, the IGAE, as well as secondary and tertiary activities, are expected to register an increase of 0.1% by July 2026.

The IOAE estimate for the seventh month of the year shows a positive performance of secondary and tertiary activities in Mexico, both on a monthly and annual basis, which, if it materializes, would mean a respite for the Mexican economy, since it would begin the third quarter of the year with slight growth.

The IOAE is a statistical tool that allows anticipating the behavior of the IGAE, as well as secondary and tertiary activities, up to five weeks in advance, according to Inegi.

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The storage services subsector added 235 establishments in June 2026 , representing a slight growth of 0.85% compared to last May, when there were 233 units, according to statistics from the Manufacturing, Maquiladora and Export Services Industry (IMMEX) program, prepared by the National Institute of Statistics and Geography (Inegi) .

According to the report, the number of employees was 15,091 , an increase of 2.20% compared to May 2026.

Meanwhile,  hours worked in June totaled 2,871 , representing a monthly increase of 6.33 percent.  Average wages for workers in this subsector reached 30,765 pesos per person, 2.12% less than in May.

Revenues in the subsector amounted to  nine billion 782 million pesos (mdp) in the sixth month of the year, that is, a slight increase of 1.72% compared to May, when they totaled nine billion 616 million pesos.

Overall, in June 2026, the revenues of establishments participating in the IMMEX program were 697,032 million pesos, a 3.99% increase compared to the same month in 2025, when they totaled 670,246 million pesos. Of the total, 59.9% corresponded to revenues from the foreign market, reflecting the sector’s dependence on international demand.

With seasonally adjusted figures, in June of this year there were  6,520  establishments registered in the IMMEX program : 5,214 carried out manufacturing activities and the rest were related to agriculture, fishing, commerce and services.

Baja California had the highest number of establishments (17.3% of the total). It was followed by Nuevo León (13.8%), Chihuahua (9.3%), Coahuila (7.1%), Guanajuato and Jalisco (6.4% each), and Tamaulipas (6.2%).

On a monthly basis, employment grew by 0.4%, while year-on-year it fell by 0.4%. Hours worked increased by 0.2% month-on-month and decreased by 0.4% year-on-year.

In June 2026, average real wages fell 0.6% monthly and showed an annual increase of 4.7% in the income of workers in the sector.

According to the results of June 2026, the IMMEX establishments showed a mixed balance, with variations among the components that make it up.

These figures come in a context where Mexican foreign trade has once again registered strong performance. In June alone, the country’s exports totaled $72.551 billion , a 34.4% year-on-year increase.

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With a drop in the production of various minerals, the Mexican mining and metallurgical industry declined in June 2026 on a monthly and annual basis , reflecting the complicated environment that the national extractive sector is going through, reported the National Institute of Statistics and Geography (Inegi) .

According to the Mining and Metallurgical Industry Statistics (EIMM), which provides information on this activity in order to generate timely indicators, production at a monthly rate decreased by 8.6 percent .

In the year-on-year comparison, the country’s mining and metallurgical production (extraction, processing, smelting and refining activities of metallic and non-metallic minerals) fell by 10.6% , with seasonally adjusted figures.

The year-on-year drop in June represents the largest decline in production in this sector so far this year, according to data from Inegi.

The negative performance in the reference period is explained by the slowdown in the production of various minerals.

Zinc fell 41.8%, lead 21.7%, gold decreased 19.2%, sulfur 17.8%, silver 8.5%, while non-coking coal and gypsum fell 1.8% and 1%, respectively, on an annual basis .

Fluorite remained unchanged, while copper saw a 1.1% increase in production and iron pellets rose 9.1% year-on-year .

By state, Durango  stood out in gold production with 2.2%, Sonora in silver with 9.4%, Chihuahua in lead with 5%, Sonora in copper with 0.5%, San Luis Potosí in zinc with 0.9%, Michoacán in iron with 17.9% and Coahuila in fluorite with 13% at an annual rate.

The Mexican mining and metallurgical industry has been one of the most affected by tariffs, specifically for products such as steel and aluminum.

Furthermore, it is one of the sectors that is on the table for the review of the Treaty between Mexico, the United States and Canada (USMCA) , especially concerning critical minerals such as lithium, cobalt, nickel and rare earths, which are essential for strategic sectors such as renewable energy, electromobility, clean technologies and advanced electronics.

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The Zapotlán Reserve Economic Development Hub for Well-being, in Hidalgo, will have an investment of more than 10 billion pesos (mdp), with a polygon of 910.8 hectares to receive companies of advanced manufacturing, logistics, pharmaceutical and medical devices .

This was reported by Germán Ahumada, executive director of DEWA , ​​the company that will develop this hub, which will combine industrial infrastructure with clean energy, services and complementary equipment.

“After more than a decade working in Hidalgo, we know its potential and we also understand the responsibility that comes with continuing to develop here. This Zapotlán Hub, the Zapotlán Reserve Wellbeing Hub, represents the next step in that commitment,” he emphasized.

At Wednesday morning’s press conference, Ahumada indicated that the hub, located in the municipality of Zapotlán de Juárez, includes a five-phase industrial logistics platform .

In that regard, Ximena Escobedo Juárez, Undersecretary of Industry and Commerce of the Ministry of Economy (SE) , explained that the first phase will be 1.277 billion pesos for urbanization and headworks, along with more than 2 billion pesos for the construction of the first two warehouses.

This phase is estimated to generate approximately 5,100 jobs, both direct and indirect.

The official highlighted that this will be the second hub to begin construction this year, “and we will be working together with DEWA and the state government, starting construction towards the middle and end of September for this first phase.”

According to the Declaration of the Economic Development Pole for Well-being Reserva Zapotlán, Hidalgo, published in the Official Gazette of the Federation (DOF) , the proximity of this facility to the Felipe Ángeles International Airport (AIFA) increases its logistical and commercial value to attract investments in sectors such as manufacturing, logistics and housing .

Furthermore, due to its integration into the logistics corridor of the Valley of Mexico, it connects with key nodes such as Pachuca, Tizayuca and Zempoala, which favors the installation of light industries and distribution centers, as well as companies in the automotive and aerospace sectors .

Cruz Azul through investment

The conference also announced an investment of 6.5 billion pesos by the La Cruz Azul Cooperative in Tula de Allende, Hidalgo.

This investment will be used to reactivate and modernize the cement plant, which is expected to produce three million tons of cement annually and generate more than 14,200 direct and indirect jobs, announced Víctor Manuel Velázquez Rangel, president of the Board of Directors of the La Cruz Azul Cooperative.

The plan includes, among other things, a new cement line with an investment of 3.7 billion pesos, which is 85% complete, as well as the rehabilitation of the Cruz Azul Hospital.

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The physical volume of production in the Mexican manufacturing industry registered a slight rebound of 0.1% on a monthly basis in June 2026, after having fallen 0.6% last May, according to the results of the Monthly Survey of the Manufacturing Industry (EMIM), prepared by the  National Institute of Statistics and Geography (Inegi) .

Conversely, on an annual basis, the country’s manufacturing activity showed a decline of 2.4% , according to the agency’s figures.

The mixed results of the sector during the sixth month of the year extended to the  employed personnel , which increased 0.1% on a monthly basis, while in its annual measurement it fell 1.5 percent.

Meanwhile,  hours worked increased by  0.1% in June 2026 compared to May, while falling by 1.5% year-on-year.  Average real wages paid , including salaries, wages, and social benefits, rose by 0.6% month-on-month and increased by 2.2% year-on-year.

By subsector, the manufacture of computer, communication, measurement and other electronic equipment, components and accessories  was the industry that had the largest increase in physical production volume with 6.8% at an annual rate.

They were followed by the chemical industry  with a growth of 5.1%, and  the manufacture of machinery and equipment  with an annual advance of 3.8 percent.

Meanwhile, the industries that registered the largest year-on-year decline were  the manufacture of petroleum and coal products with a decrease of 5%, and  the manufacture of textile inputs and textile finishing with a decrease of 3.9%.

The Mexican manufacturing industry is going through a period of ups and downs, where there has been a realignment in the sectors that traditionally sustained the value of production and exports.

The June 2026 results of the EMIM, which reports on the situation of the main variables of production and employment in the manufacturing sector, recorded an increase in the production of computer equipment.

According to Grupo Financiero BASE , computer equipment exports grew 144.80% in 2025 compared to 2024, and it is one of the products that currently sustains the country’s shipments abroad.

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The Timely Indicator of Private Consumption (IOCP) anticipated  a 0.2% monthly increase in consumption for June 2026 and estimated a 2.5% annual growth rate , according to figures from the  National Institute of Statistics and Geography (Inegi) .

For July, the agency projected that the IOCP would not show changes on a monthly basis, reflecting a stagnation in Mexican household spending; while in its annual measurement it forecasts an increase of 2.2 percent.

For both months, the consumption index would be at 114.2 points , which could signify a trend of stability.

In June 2026, consumption showed signs of recovery in Mexican household spending as the economy also began to pick up.

In the second quarter of 2026 alone, Mexico’s Gross Domestic Product (GDP) grew by 1.51%, after a contraction of 0.62% in the first quarter of the year, according to Grupo Financiero BASE .

Although consumption, which represents more than 70% of the country’s Gross Domestic Product (GDP)  , is expected to show positive behavior in June 2026, Mexicans continue to show caution when purchasing goods and services.

Given this scenario, some consumers have changed their habits, buying lower-cost products or store brands, even in hard discount stores .

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The construction and mining sectors boosted Mexico’s industrial production, which saw a slight increase of 0.2% in June 2026 compared to May , when it fell 0.7% month-on-month, reported the  National Institute of Statistics and Geography (Inegi) .

With this result, the Monthly Indicator of Industrial Activity (IMAI) was at a level of 102 during the sixth month of the year.

According to the agency’s figures,  three of the four components of the IMAI had a positive performance in June 2026 on a monthly basis, with  construction  showing the largest increase at 3 percent.

This was followed by the generation, transmission, distribution, and marketing of electricity, and the supply of water and natural gas via pipelines to the end consumer , which rose 0.9 percent. Mining  increased 0.6 percent, and  manufacturing industries declined 0.6 percent during June of this year on a monthly basis.

In its annual measurement, Mexican industrial activity also showed encouraging figures, registering an increase of 0.8% in the sixth month of 2026.

Within the indicator, mining performed best with a 7 percent increase. Construction grew 4.2%, and the generation, transmission, distribution, and marketing of electricity, water supply, and natural gas via pipelines to the end consumer increased 0.7% year-on-year.

The only sector that showed a negative figure on an annual rate was manufacturing industries, which fell 1.2% compared to June 2025, reflecting the stagnation that this activity has had in recent months.

The IMAI results for June show an advance in Mexican industrial activity, with some activities performing better than others.

In this sense, construction, driven by various projects such as passenger trains and the Mexico Plan with the construction of industrial parks through the Development Poles of Well-being, has had a positive impact on the IMAI.

Meanwhile, the manufacturing industry has registered a decline, both on a monthly and annual basis, resulting from external policies such as the tariffs imposed by the United States, and a Mexican economy that is only just beginning to show signs of recovery.

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Industrial activity in 25 of Mexico’s 32 federal entities registered advances in April 2016 compared to last March, reported the  National Institute of Statistics and Geography (Inegi) .

According to the Monthly Indicator of Industrial Activity by Federal Entity (IMAIEF) —which provides information on the behavior of industrial activity in the states—, Oaxaca (11.8%), Mexico City (9.4%) and Quintana Roo (7.1%) were the states that showed the best performance in their  industrial activity  in the fourth month of the year on a monthly basis.

Guerrero, Sinaloa and Jalisco also reported growth in their industries compared to last month in real terms.

Conversely, the states that experienced the largest declines in April 2026 compared to March of this year were Morelos with a decrease of 3.2%, Guanajuato with a decline of 1.6%, and Sonora with a decrease of 1.4%.

In its annual measurement, the entities where industrial activity showed the greatest progress were Hidalgo, Nayarit and Oaxaca, with 20.6%, 15.3% and 12.5%, respectively, in April 2026.

The states with the largest year-on-year declines in their industrial activity were Quintana Roo with 23.1%, Morelos with 16.5%, and Campeche with 5.5%.

Activity by sector

In April 2026,  manufacturing industries  showed significant progress in Tabasco, Oaxaca, San Luis Potosí, Hidalgo and Colima at an annual rate.

In  construction , the largest increases occurred in Tlaxcala, Hidalgo, the State of Mexico, Guerrero, Sinaloa, Nayarit, Puebla and Colima.

The  mining sector  registered increases in the State of Mexico, Yucatan, Veracruz, Chiapas, Hidalgo and San Luis Potosi.

In the  generation, transmission, distribution and marketing of electricity, water supply and natural gas by pipeline to the end consumer,  the increases in Nayarit, Querétaro, Yucatán, Oaxaca, Baja California, Hidalgo, Veracruz and Campeche stood out at an annual rate.

The results of the IMAIEF in April 2026 show that some of the largest increases occurred outside of the states associated with the country’s manufacturing industrial corridors, while others remained stable despite a complex economic situation, which is only now beginning to show signs of recovery.

In that sense, in the second quarter of 2026 alone, the country’s Gross Domestic Product (GDP) grew 1.51% after a contraction of 0.62% in the first quarter of the year.

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